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on hand and when sandy had, the amount paid out exceeded the cash on hand in our existing borrowing authority. so congress has to appropriate almost $9 billion so we could go out and borrow enough money to pay those claims off. who is paying the interest on that? who was ultimately sat with the data if the insurance policies never pay that off? do the taxpayer. you are the insurance come me. it's called the national flood insurance program. you are responsible for that exposure and at the point where fema can no longer borrow enough money for congress cannot find my money, we will build a payer claims that the fault, which means it will come back to you the taxpayer to make up the difference. why was the flood insurance program created in the first place? remember that saying about it might be assigned? from the private sector said the risk and exposure to flooding is greater than our ability to make returns for shareholders. first of all, insurance companies are not evil people. they have a job to do to manage risk in such a way they can provide coverage at a rate which they pay ou
be monitoring, of course the economics comes to bear. we know about hurricane sandy, anybody has an estimate of what the drought of 2012 has cost us so far? the issue is within agriculture alone, the estimate from usda to date is almost $50 billion within agriculture alone. what ends up happening, and don and others could tell you from work done by the national drought mitigation center, is when we ask, well, where are those impacts coming from, the agricultural impacts constituted about 25% of the total number of of reported impacts that we had seen. water resources, energy, wildfire. and one of the things you order in the last discussion and in this one that is the underappreciated aspect of the impacts of drought and air ridty, the loss of ecosystem sources as they support and supply tourism, recreation, clean water and clear air. we do not have any sense of what the costs of those multiple impacts are. we know a bit about the insured impacts from agriculture, but so, therefore, what needs to be considered? the indicators, as margaret is saying, about how people are economically impacted,
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